TPG (NASDAQ:TPG) Given New $68.00 Price Target at Royal Bank Of Canada

TPG (NASDAQ:TPG) had its target price upped by Royal Bank Of Canada from $65.00 to $68.00 in a research report released on Friday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other research analysts also recently commented on TPG. Wall Street Zen raised TPG from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Citigroup reaffirmed an “outperform” rating on shares of TPG in a research report on Thursday, July 9th. Morgan Stanley reduced their price objective on shares of TPG from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $62.00 target price on shares of TPG in a report on Wednesday, August 5th. Finally, Barclays boosted their target price on shares of TPG from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TPG currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.07.

TPG Price Performance

Shares of NASDAQ TPG opened at $46.68 on Friday. The stock has a market capitalization of $17.94 billion, a PE ratio of 53.66, a P/E/G ratio of 0.90 and a beta of 1.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.31 and a quick ratio of 0.31. The business has a fifty day moving average price of $47.00 and a two-hundred day moving average price of $45.88. TPG has a fifty-two week low of $36.95 and a fifty-two week high of $70.38.

TPG (NASDAQ:TPG) last released its earnings results on Thursday, October 29th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $624.66 million. TPG had a return on equity of 29.24% and a net margin of 5.32%. The company’s revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. As a group, equities analysts predict that TPG will post 2.78 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.7%. This is a drop from TPG’s previous quarterly dividend of $0.59. TPG’s dividend payout ratio (DPR) is 357.58%.

Hedge Funds Weigh In On TPG

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of TPG by 38.1% during the 2nd quarter. Wellington Management Group LLP now owns 11,019,487 shares of the company’s stock worth $446,840,000 after buying an additional 3,041,560 shares during the last quarter. Temasek Holdings Private Ltd boosted its stake in TPG by 14.1% in the first quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company’s stock valued at $406,239,000 after buying an additional 1,236,526 shares in the last quarter. Vulcan Value Partners LLC boosted its stake in TPG by 18.9% in the second quarter. Vulcan Value Partners LLC now owns 2,361,862 shares of the company’s stock valued at $95,774,000 after buying an additional 375,836 shares in the last quarter. Jackson Brooke LLC acquired a new stake in TPG in the second quarter valued at about $92,395,080. Finally, Junto Capital Management LP bought a new position in TPG in the second quarter valued at about $82,794,000. Institutional investors own 94.03% of the company’s stock.

TPG News Summary

Here are the key news stories impacting TPG this week:

• Positive Sentiment: Analysts raised targets: TD Cowen, RBC, Wells Fargo and Barclays all increased their price targets, with ratings ranging from “equal weight” to “buy” and “outperform.” The new targets imply approximately 11% to 46% upside, supporting the bullish case for TPG. TD Cowen analyst action
• Positive Sentiment: Quarterly earnings exceeded expectations: TPG reported third-quarter EPS of $0.65 versus the $0.63 consensus estimate. Revenue reached $1.22 billion, up 25.3% year over year and well above the reported $624.7 million estimate, while EPS increased from $0.53 a year earlier. TPG Q3 earnings report
• Positive Sentiment: Fundraising outlook remains strong: TPG reportedly expects to raise a record $55 billion this year, which could expand fee-generating assets and improve long-term earnings visibility. TPG fundraising outlook
• Neutral Sentiment: TPG is reportedly considering a roughly $5 billion acquisition of Ark Data Centres and has launched a $10 billion climate fund. These initiatives could create new growth opportunities but also involve significant capital deployment and execution risk. TPG Ark Data Centres talks
• Negative Sentiment: Dividend was reduced: TPG declared a quarterly dividend of $0.55 per share, down 6.8% from $0.59 previously. The cut may concern income-focused investors despite the approximately 4.6% indicated yield. TPG dividend announcement

About TPG

TPG Inc is a global alternative asset management firm that invests across a range of strategies, including private equity, growth equity, impact investing, real estate, infrastructure, credit and secondaries. The company partners with businesses and management teams to provide capital, strategic guidance and operational support.

TPG manages investment funds for institutional investors and other clients, with a focus on sectors such as technology, healthcare, consumer products and services, financial services, and business services.